Trenton, NJ ― Associated Press reporter Shawn Marsh reports that the 2 million-square-foot building where Bell Labs scientists helped launch modern cellular networks before it became one of the country’s largest vacant office buildings is drawing companies with the lure of working at a complex surrounded by technological history.
A water tower in the shape of a transistor, which the company’s scientists created in 1947 as part of their continuing mission to improve and expand communications, stands over the Bell Works complex in Holmdel, near the site where the Big Bang theory of the universe was proven.
With that history, the developer who acquired the building in 2013 after it sat vacant for seven years is hoping to lure tech entrepreneurs and others to the glass and steel structure originally designed by Eero Saarinen, who also designed St. Louis’ Gateway Arch.
Somerset Development President Ralph Zucker envisions the office space as a “metroburb” anchored by tech companies that are joined by retail, entertainment, health care and nearby homes.
“It’s an attractive building with an incredible history that was a cradle of many innovations,” said Zucker.
A water tower in the shape of a transistor, which the company’s scientists created in 1947 as part of their continuing mission to improve and expand communications, stands over the Bell Works complex in Holmdel, near the site where the Big Bang theory of the universe was proven.
With that history, the developer who acquired the building in 2013 after it sat vacant for seven years is hoping to lure tech entrepreneurs and others to the glass and steel structure originally designed by Eero Saarinen, who also designed St. Louis’ Gateway Arch.
Somerset Development President Ralph Zucker envisions the office space as a “metroburb” anchored by tech companies that are joined by retail, entertainment, health care and nearby homes.
“It’s an attractive building with an incredible history that was a cradle of many innovations,” said Zucker.
Aside from the allure of being surrounded by history, the state’s Economic Development Authority also offered millions in tax credits to companies considering moving to the complex.
Bell Works is about 60 percent full after last month’s lease signing by human resources software provider iCIMS as the anchor tenant. iCIMS received a 10-year, $38 million tax credit.
Other tenants include the software company WorkWave, data storage startup Symbolic IO and cloud-based communications services designer Acacia Communications.
Plans also call for Toll Brothers to develop up to 40 single-family homes and 185 age-restricted townhomes, as well as a field house for sports.
Mayor Eric Hinds said the redevelopment will build on the work of the past, which itself transformed Holmdel from “a farm town into a corporate destination.”
For the full story, click here.
Bell Works is about 60 percent full after last month’s lease signing by human resources software provider iCIMS as the anchor tenant. iCIMS received a 10-year, $38 million tax credit.
Other tenants include the software company WorkWave, data storage startup Symbolic IO and cloud-based communications services designer Acacia Communications.
Plans also call for Toll Brothers to develop up to 40 single-family homes and 185 age-restricted townhomes, as well as a field house for sports.
Mayor Eric Hinds said the redevelopment will build on the work of the past, which itself transformed Holmdel from “a farm town into a corporate destination.”
For the full story, click here.
